“At the global level, currently only 22% of carbon is being priced, which is really insufficient,” says climate change strategist Lucian Peppelenbos. “And the average global price of about USD 2/t CO2e is nowhere close to being serious.”
P.Canadell, /C.Le Quéré /G. Peters/ Robbie Andrew/ Rob Jackson via The Conversation | Strong energy demand is behind the rise in emissions growth, which is outpacing the speed at which decarbonisation of the energy system is taking place. Total energy consumption around the world increased by one sixth over the past decade, the result of a growing global middle class and the need to provide electricity to hundreds of millions of people living in poverty.